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Explain the purpose of rent control and the intended effect on consumers and suppliers of rental property.
Does rent control achieve its purpose?
Using the Internet or the Virtual Library, give some detail regarding real-world experiments in rent control policy and their effect on consumers and suppliers of rental property.
How do rent control policies alter incentives for consumers and producers in the market for rental property?
The California Instruments Corporation, a producer of electronic equipment, makes pocket calculators in a plant that is run autonomously. What price should the manager charge for the calculators?
If the government imposes consumption tax on the good that raised prices by $1, by how much will the consumer's surplus change? Show the relationship between EV, CV, and consumer surplus using compensated and uncompensated demand curves. If you your..
The Hull Petroleum Corporation and Inverted V are retail gasoline franchises that compete in local market to sell gasoline to customer.
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm's marginal cost is constant at $10 per unit. a. Express the firm's marginal revenue as a function of its price. b. Determi..
Assume two inputs, K and L. Illustrate the following cases with two graphs: (1) the substitution effect on labor hired due to a wage increase is zero. (2) the scale effect on labor hired due to a wage increase is zero.
While many thought that 2008 fiscal stimulus plan explained in the feature on pg. 174 was a good idea, some did not. Some even think that Congress did not go far enough.
Assuming that there are only two goods, and the other good (food) is capital intensive, show the equilibrium points of production and consumption in ALFA, before and after trade.
Income at a major cellular telephone manufacturer when it decreased the average selling price of its phones.
President Obama pushed his massive fiscal stimulus package of $787 through the Congress and later passed by the House and Senate, whose centerpiece was spending most of this stimulus funds
This customer can buy or sell the commodity depending on its cost.
According to the Heckscher-Ohlin theorem, is Russia capital abundant or labor abundant? Briefly explain. What is the impact of opening trade on the real wage in Russia? Briefly explain.
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